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Better Living through Economics John J. Siegfried

Better Living through Economics By John J. Siegfried

Better Living through Economics by John J. Siegfried


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Summary

This book consists of 12 case studies-from building the foundation for eliminating the military draft in 1973 to implementing the Pension Reform Act in 2006-that demonstrate how economic research has improved economic and social conditions over the past half century by influencing public policy decisions.

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Better Living through Economics Summary

Better Living through Economics by John J. Siegfried

Better Living Through Economics consists of twelve case studies that demonstrate how economic research has improved economic and social conditions over the past half century by influencing public policy decisions. Economists were obviously instrumental in revising the consumer price index and in devising auctions for allocating spectrum rights to cell phone providers in the 1990s. But perhaps more surprisingly, economists built the foundation for eliminating the military draft in favor of an all-volunteer army in 1973, for passing the Earned Income Tax Credit in 1975, for deregulating airlines in 1978, for adopting the welfare-to-work reforms during the Clinton administration, and for implementing the Pension Reform Act of 2006 that allowed employers to automatically enroll employees in a 401(k). Other important policy changes resulting from economists' research include a new approach to monetary policy that resulted in moderated economic fluctuations (at least until 2008!), the reduction of trade impediments that allows countries to better exploit their natural advantages, a revision of antitrust policy to focus on those market characteristics that affect competition, an improved method of placing new physicians in hospital residencies that is more likely to keep married couples in the same city, and the adoption of tradable emissions rights which has improved our environment at minimum cost.

Better Living through Economics Reviews

The contributions are uniformly excellent and written by top economists. -- Tyler Cowen marginalrevolution.com 20091122 In this series of articles, contributors discuss how economics has come to change the world in ways that other disciplines could only dream of. Through a series of examples including trade liberalization, emissions trading, antitrust regulation, and things as complicated as deferred-acceptance algorithms, they show the profound impact economic theory has had on the quality of life across the globe. They also remark on how quickly these changes have occurred when one compares the time to impact in other comparable fields. The book's contributors are among the most respected economists in the discipline, which further contributes to the work's impact on the reader. This volume should be on the shelf of any self-respecting economist and would make for a perfect supplemental text for any introductory or intermediate class in economics...It is also written at a level allowing people who are economically illiterate to read with enjoyment. -- P. Shaw Choice 20100801

About John J. Siegfried

John J. Siegfried is Professor of Economics, Emeritus, at Vanderbilt University, and Secretary-Treasurer of the American Economic Association.

Additional information

CIN0674064127G
9780674064126
0674064127
Better Living through Economics by John J. Siegfried
Used - Good
Paperback
Harvard University Press
2012-03-02
324
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
This is a used book - there is no escaping the fact it has been read by someone else and it will show signs of wear and previous use. Overall we expect it to be in good condition, but if you are not entirely satisfied please get in touch with us

Customer Reviews - Better Living through Economics